A bill designed to encourage more semiconductor companies to build chip plants in the United States passed the Senate on Wednesday as lawmakers raced to finish work on a key priority of the Biden administration.

The $280 billion measure, which awaits a House vote, includes federal grants and tax breaks for companies that construct their chip facilities in the U.S. The legislation also directs Congress to significantly increase spending on high-tech research programs that lawmakers say will help the country stay economically competitive in the decades ahead.

Senate passage came by a 64-33 vote. The House vote is expected later this week as lawmakers try to wrap up business before returning to their home states and districts in August. House Speaker Nancy Pelosi, D-Calif., has said she is confident there is enough GOP support to overcome potential defections from Democrats who view the subsidy effort to boost semiconductor companies as a misplaced priority.

Proponents of the legislation say other countries are spending billons of dollars to lure chipmakers. Backers say the U.S. must do the same or risk losing a secure supply of the semiconductors that power automobiles, computers, appliances and some of the military�s most advanced weapons systems.

Senate Majority Leader Chuck Schumer, D-N.Y., said the bill represented one of the nation�s largest investments in science and manufacturing in decades and that with the Senate�s approval, �we say that America�s best years are yet to come.�

Opponents have been critical of the bill�s price tag. It is projected to increase federal deficits by about $79 billion over 10 years.

President Joe Biden said the bill would create jobs and lower costs on a wide range of products from cars to dishwashers.

�For decades, some �experts� said we needed to give up on manufacturing in America. I never believed that. Manufacturing jobs are back,� Biden said. �Thanks to this bill, we are going to have even more of them. The House should promptly pass it and send this bill to my desk.�

The bill has been in the works for years, starting with efforts by Schumer and Sen. Todd Young, R-Ind., to increase the government�s investment in high tech research and development. While the bill has taken several twists and turns, one constant theme that lawmakers repeatedly emphasized during Wednesday�s debate was the need to keep up with China�s massive investments in cutting-edge technology.

China�s government is planning on �winning the (artificial intelligence) race, winning future wars and winning the future,� Young said. �And the truth is, if we�re being honest with ourselves, Beijing is well on its way to accomplishing these goals.�

Sen. Roger Wicker, R-Miss., said, �Regrettably, we are not in the driver�s seat on a range of important technologies. China is.� Congress, he said, now has �a chance to move us back in the right direction and put America back into a place to win the game.�

(AP)